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A Middle Eastern investment giant is suing Goldman Sachs over the ‘massive international conspiracy’ of the 1MDB scandal





Goldman Sachs

  • Abu Dhabi’s IPIC filed a lawsuit against Goldman Sachs on Wednesday to recover losses from 1MDB scandal.
  • The US investment Bank is being scrutinized for its role in the scandal, which saw $4.5 billion misappropriated.
  • Goldman said it expects to “contest the claim vigorously.”
  • Morgan Stanley downgraded the rival lender as accusations against the bank furthered.

US investment banking giant Goldman Sachs is facing the music over the One Malaysia Development Berhad (1MDB) fund scandal.

Abu Dhabi’s International Petroleum Investment Company (IPIC) filed a lawsuit in New York on Wednesday against Goldman Sachs and others, according to The Wall Street Journal.

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Source:: BusinessInsider.Com

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